TORONTO, April 30 /CNW/ - Luxell Technologies Inc. (TSX:LUX) today announced that following the delay in filing its interim financial statement for the 3 month period ending February 28, 2007, the Ontario Securities Commission ("OSC") imposed a Management Cease Trade Order ("MCTO").
Effective April 27, 2007, the OSC issued an MCTO restricting named insiders from trading in and acquiring securities of the Company, whether directly or indirectly, until two business days following the receipt by the OSC of 2nd Quarter Financials. Under the terms of the MCTO, the Company will also provide bi-weekly update reports on its progress.
Since the Company's original announcement dated April 18, 2007 regarding the delay in filing its fiscal 2007 - 2nd Quarter, financial statements and related MD&A, there has been no material change to the information contained in that announcement. The Company continues to anticipate filing the required financial statements and MD&A by or before May 14, 2007 as originally announced on April 18, 2007.
About Luxell
Luxell designs, manufactures and licenses flat panel display technologies and solutions for defence and avionics industries. More information can be found at www.luxell.com. (C) Luxell Technologies Inc. All other company and/or product names are trademarks and/or registered trademarks of their respective manufacturers.
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